Equity Portfolios

Market Volatile As Momentum Investors Curtail Their Enthusiasm

The market has recently been driven by investors with short time horizons and even shorter attention spans. Focusing on recent price shifts rather than fundamental factors, they are fickle and seem to believe that yesterday’s price action is the best predictor of tomorrow’s direction.

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Fixed Income Portfolios

U.S. Treasuries Rally As Investors Seek Safety

Concern about Europe’s sovereign debt and questions about global growth rates impacted the U.S. and global bond market in the second quarter. In a bid for safety, investors sought the shelter of low-risk debt issued by the U.S. Treasury over riskier asset types. This meant the yield difference (the spread) between U.S. Treasury bonds and riskier corporate, municipal and high-yield markets widened after narrowing in 2009 and the first quarter of 2010.

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